Stocks of the Hour: Consolidated Zinc, The Market Herald, Norwest Minerals

Consolidated Zinc Limited (ASX:CZL) has announced an exploration program has been approved for lithium-focussed exploration to be completed this year. Four of the five Exploration Lease Applications (ELA’s) have now been granted, with the remaining application in the Marble Bar region expected to be granted shortly. Managing Director, Mr. Brad Marwood noted: “Consolidated Zinc’s recently acquired 1,000 sq km of Pilbara tenements gives the Company a major new focus in this highly regarded WA exploration and development location with a strong record of hosting lithium mineralisation. Shares are trading 19.1 per cent higher at 3 cents.

Yesterday The Market Herald (ASX:TMH) the owner of Hot Copper announced their equity portfolio has hit their bottom line.The Market Herald takes some payments in client stock and holds these positions in equity portfolio, in (insert chart here) 2021 this portfolio increased by $7.2 million, in 2022 it decreased by $8.3 million. The company has recently announced a rights issue along with a $60m vendor loan to help fund the acquisition of Gumtree, Auto Trader and CarsGuide. The rights issue is being underwritten by company Director Mr Gavin Argyle for a 4% fee. The share price is currently unchanged.

Norwest Minerals (ASX:NWM) announced the discovery of very high-grade copper–gold-quartz veins extending across multiple target areas at the Company’s 100% owned Bali Copper Project in WA. Norwest’s CEO, Mr. Charles Schaus commented: “The discovery of the new copper-gold bearing quartz veins is a very exciting outcome following Norwest’s recent commencement of work at the previously unexplored Deep South area. Drilling is already underway to test four historical copper prospects along the Bali Shear2 , whilst drill planning to test the down dip extent of these new high grade copper-gold quartz veins is being undertaken alongside ongoing exploration fieldwork programs.” Shares are trading 18.3 per cent higher at 7 cents.
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Source: Finance News Network